US-Canada Import - Ontario Vehicle Importer Experience
09-24-2012, 08:14 AM
#16
Captain Obvious
Super User
Super User
I "could" have done that, but the time between when I purchased it and when TFX finally got around to delivering it went outside the time period for the insurance company to cover it (according to my broker, you don't even have to tell them you bought it.. if you have a bill of sale, it is automatically covered for X days (cant remember how long, seem to think it was 15 days) to the extent of the least insured vehicle you have with the insurance company (just make sure you do not have a vehicle in storage with perils only at the time)
09-24-2012, 08:29 AM
#17
Burning Brakes
Join Date: Feb 2012
Location: London, Ontario, Canada
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Nope, according to the Ontario Insurance act, it is covered for a period of I think 15 days for transportation, as long as you have a vehicle insured with the company.. Then you have to provide the info to them.. and I have not had to go in and sign anything for 20 years, it is all done by email for me 
I am not a broker, but this guy is not with a small company, and seemed very clear on the rules, as we had many long conversations to try and get around it.
I am not a broker, but this guy is not with a small company, and seemed very clear on the rules, as we had many long conversations to try and get around it.
09-24-2012, 07:24 PM
#18
Sharker is correct (mostly). Here's the wording re: Newly Acquired Vehicles, from the standard automobile insurance policy as approved by the Financial Services Commission of Ontario:
2.2.1 Newly Acquired Automobiles
A newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same coverage as the described automobile it replaces. We will cover an additional automobile as long as:
- we insure all automobiles you own, and
- any claim you make for the additional automobile is made against a
coverage we provide for all your other automobiles.
Your newly acquired automobile(s) will be insured as long as you inform us within 14 days from the time of delivery and pay any additional premium required.
In some cases the law may require us to inspect your newly acquired automobile within 10 days of the date you inform us that you acquired it. If you do not cooperate with any reasonable arrangements we make to inspect it, claims under Section 7, Loss or Damage Coverages for the newly acquired automobile may be denied.
Special Condition: Coverage is not extended to a newly acquired automobile if you are in the business of selling automobiles.
The full policy wording can be found here:
http://www.fsco.gov.on.ca/en/auto/fo...orms/1215E.pdf
I would not suggest reading the document in full unless you are suffering from insomnia!
I am not an insurance broker, nor do I play one on tv.
Tommy
2.2.1 Newly Acquired Automobiles
A newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same coverage as the described automobile it replaces. We will cover an additional automobile as long as:
- we insure all automobiles you own, and
- any claim you make for the additional automobile is made against a
coverage we provide for all your other automobiles.
Your newly acquired automobile(s) will be insured as long as you inform us within 14 days from the time of delivery and pay any additional premium required.
In some cases the law may require us to inspect your newly acquired automobile within 10 days of the date you inform us that you acquired it. If you do not cooperate with any reasonable arrangements we make to inspect it, claims under Section 7, Loss or Damage Coverages for the newly acquired automobile may be denied.
Special Condition: Coverage is not extended to a newly acquired automobile if you are in the business of selling automobiles.
The full policy wording can be found here:
http://www.fsco.gov.on.ca/en/auto/fo...orms/1215E.pdf
I would not suggest reading the document in full unless you are suffering from insomnia!
I am not an insurance broker, nor do I play one on tv.
Tommy
09-24-2012, 09:50 PM
#20
Burning Brakes
My insurance company had me going in circles. They finally said fax a copy of your policy to the dealer and you will be covered. I got a 30 day temp. tag (North Carolina) and drove it home. I even used it in Ontario until I got all the RIV business done.
09-24-2012, 10:01 PM
#21
Captain Obvious
Super User
Super User
Sharker is correct (mostly). Here's the wording re: Newly Acquired Vehicles, from the standard automobile insurance policy as approved by the Financial Services Commission of Ontario:
2.2.1 Newly Acquired Automobiles
A newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same coverage as the described automobile it replaces. We will cover an additional automobile as long as:
- we insure all automobiles you own, and
- any claim you make for the additional automobile is made against a
coverage we provide for all your other automobiles.
Your newly acquired automobile(s) will be insured as long as you inform us within 14 days from the time of delivery and pay any additional premium required.
In some cases the law may require us to inspect your newly acquired automobile within 10 days of the date you inform us that you acquired it. If you do not cooperate with any reasonable arrangements we make to inspect it, claims under Section 7, Loss or Damage Coverages for the newly acquired automobile may be denied.
Special Condition: Coverage is not extended to a newly acquired automobile if you are in the business of selling automobiles.
The full policy wording can be found here:
http://www.fsco.gov.on.ca/en/auto/fo...orms/1215E.pdf
I would not suggest reading the document in full unless you are suffering from insomnia!
I am not an insurance broker, nor do I play one on tv.
Tommy
2.2.1 Newly Acquired Automobiles
A newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same coverage as the described automobile it replaces. We will cover an additional automobile as long as:
- we insure all automobiles you own, and
- any claim you make for the additional automobile is made against a
coverage we provide for all your other automobiles.
Your newly acquired automobile(s) will be insured as long as you inform us within 14 days from the time of delivery and pay any additional premium required.
In some cases the law may require us to inspect your newly acquired automobile within 10 days of the date you inform us that you acquired it. If you do not cooperate with any reasonable arrangements we make to inspect it, claims under Section 7, Loss or Damage Coverages for the newly acquired automobile may be denied.
Special Condition: Coverage is not extended to a newly acquired automobile if you are in the business of selling automobiles.
The full policy wording can be found here:
http://www.fsco.gov.on.ca/en/auto/fo...orms/1215E.pdf
I would not suggest reading the document in full unless you are suffering from insomnia!
I am not an insurance broker, nor do I play one on tv.
Tommy
09-25-2012, 10:22 AM
#22
Burning Brakes
Join Date: Feb 2012
Location: London, Ontario, Canada
Posts: 813
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"The replacement automobile will have the same coverage as the described automobile it replaces"
This covers the transit I think.. .. because of all of the issues, I had mine transported in a covered trailer, and it was insured by the Transport Company
This covers the transit I think.. .. because of all of the issues, I had mine transported in a covered trailer, and it was insured by the Transport Company
09-25-2012, 06:21 PM
#24
Instructor
Thread Starter
I will definitely call my insurance company to make sure they confirm that they would cover the new car for transportation.
In regards to arrangements to get the car in Ontario, depending on where I find the car (how close to the border) I will either drive across the border or arrange for transportation.
One thing is for sure, the latest CAD to US FX rate definitely strengthens the case for importing.
In regards to arrangements to get the car in Ontario, depending on where I find the car (how close to the border) I will either drive across the border or arrange for transportation.
One thing is for sure, the latest CAD to US FX rate definitely strengthens the case for importing.
